Speaker: Dr. Michael May, CEO of Rimon Therapeutics Michael May is the CEO of Rimon Therapeutics, a company he founded to commercialize his thesis work at U of T. In this presentation, Michael discusses what it is like making the transition from the lab to the boardroom. More information: http://www.marsdd.com/Events/Event-Calendar/Ent101/2007/Science-and-business-do-mix-20071128.html

2. Michael H. May PhD President and Co-Founder Science and Business Do Mix Entrepreneurship 101, MaRS, Nov 28 th , 2007

6. Motivation “ I have been doing research for 30 years and this is the first time that something I have worked on is being tested on humans” Professor. Michael Sefton, Co-Founder - after a long day with the Board on clinical trial design and patient recruitment The Theramer™ Company After 4 weeks of MI-Sorb ™ treatment Prior to treatment with MI-Sorb ™ Dressing

9. Drug-like Activity/Margins Device Timelines Versatility of Polymers Unique Value Proposition The Theramer™ Company

10. Corporate Feasibility Licensing Revenue Stent Restenosis Catheter Infection Research Partners Joint Disease New Polymer Design Product Focus Pre-Clinical Validation Clinical Validation Eye Disorders Chronic Skin Wounds Rimon In-house Theramer Product #2 H22007 Strategic Partnership Product Pipeline Market sizes: all large markets with substantial segments The Theramer™ Company

14. MI-Sorb ™ Efficacy Baseline After 4 weeks of MI-Sorb TM Treatment Migrating, less friable wound edges; pink and firm granulation tissue Reduced MMP-2 staining (brown) Organised collagen (blue); little fibrin (red); reduced cellularity MMP-2 Masson’s MMP-2 Masson’s

16. Some Important Success Factors The Theramer™ Company

18. Opportunity in the Unexpected The Theramer™ Company

20. Simple is Best The Theramer™ Company

24. Execute, Execute, Execute The Theramer™ Company

26. $ time High Risk of Failure (“Pit of Hell”) 1 in 3000 Execution = Risk Mitigation Value = Next Financing Risk Mitigation =Value Creation F1 F2 F3 Profile of an R&D Start-up The Theramer™ Company

28. Corporate Feasibility Licensing Revenue Research Partners Polymer Design Product Focus Pre-Clinical Validation Clinical Validation Rimon In-house Strategic Partnership Execution Mitigates Risk p< 80% p< 80% p< 10% p< 33% p< 10% IP Protection Freedom to Operate Scale-up Manufacturing Regulatory Re-imbursement POC Material Development POA Material Development POP Material Development p< 25% p< 50% p< 80% p< 60% p< 33% The Theramer™ Company Overall probability of success is very low!